Invent, challenge & pivot your business idea with this tool

Invent, challenge & pivot your business idea with this tool

I fully agree with him too. Ideas and opportunities are everywhere. What separates the successes from the failures all comes down to execution. I’ve used a lot of methodologies and frameworks and one of my all time favorites is the Business Model Canvas.

It is a wonderfully simple tool to help you flush out your ideas into a more detailed and complete business model that you can visualize on one page. The visual chart provides areas for describing your business or product’s value proposition, infrastructure, customers, and finances. It can help you in aligning your planned activities and illustrate potential trade-offs.

The following areas make up the building blocks for the business activities.

Customers

Customer Segments

Channels

Customer Relationships

Offering

Value Propositions

Infrastructure

Key Activities

Key Resources

Partner Network

Finances

Cost Structure

Revenue Streams

How the business model canvas works

Once you’ve defined a business idea or concept, a survey of the potential market should be taken before developing the product. Research and brainstorming will help refine the concept, quantify the market potential, and identify important sell able features for the product.

The Business Model Canvas helps you organize your information to reflect systematically on the business model being developed by mapping each of its elements to the real business areas.

Example of Completed Business Model Canvas

If you need more details on how to really dig in a get the most benefit out of the business model canvas, I suggest you check out the book. It goes into great depths on how to get the most out of this model and also has some great case studies to learn from.

The Business Model Canvas is a great tool to map our you new start up, product idea or your current business. It really makes you think about the many important aspects of your proposed idea.

If you need help facilitating a Business Model Canvas brainstorm, let us know and we would be happy to help you through the process.

Craig Cherlet

Craig is one of Marketing Stream's co-founders. He's spent 15+ years working with companies to develop and implement digital products & growth strategies.
Craig also blogs about online business on his personal blog at CraigCherlet.com.You can also find and follow him on these social sites.

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